Crypto Dictionary
Confirmation
Definition
The act of verifying a transaction and adding it to the blockchain.
Deep Dive
In blockchain technology, a confirmation signifies that a transaction has been successfully verified, included in a block, and subsequently added to the blockchain. When a transaction is first broadcast, it sits in the mempool. Once a miner or validator includes it in a block and that block is successfully added to the chain, the transaction receives its first "confirmation." This initial confirmation indicates that the transaction is now part of the immutable public ledger.
Examples & Use Cases
- 1A cryptocurrency exchange requiring 6 Bitcoin confirmations for a deposit to be cleared
- 2A small online retailer accepting payment after just 1 Ethereum confirmation
- 3A high-value international transfer waiting for 20+ confirmations for maximum security.
Related Terms
TransactionBlockchainImmutabilityFinality